Energy investment is step to reindustrialisation

Newly announced multi-million pound funding for five marine energy projects is the latest step towards the reindustrialisation of Scotland.

The £7.9 million investment will see three tidal energy and two wave energy developers create and test prototype devices in the seas around Scotland.

The funding comes from the second round of the Scottish Government’s WATERS (Wave & Tidal Energy: Research, Development & Demonstration Support) scheme which aims to grasp the opportunities offered by a sector that could be worth £4 billion to Scotland’s economy by 2020.

Commenting, SNP MSP Mike MacKenzie who sits on the Economy, Energy and Tourism Committee said:

“Renewable energy offers us incredible opportunities and this investment is our latest step towards the reindustrialisation of Scotland.

“There are already more than 11,000 people employed in jobs linked to Scotland’s renewables industry and I am confident there are significantly more to come.

“Key to bringing these jobs and investments is for Scotland to be at the forefront of innovation, which why these projects are so important.

“The long-term boost to our economy that these technological developments could bring simply cannot be underestimated.

“There are billions of pounds and thousands of jobs up for grabs and the SNP is determined that Scotland should be at the forefront of grasping these.”